“Equus” by Peter Schaffer Essay

Equus The play â€Å"Equus† by Peter Schaffer investigates ideas of faith, passion, violence, and adolescent sexuality. Schaffer was inspired to write the play after hearing a true story; a crime involving a teenage boy’s seemingly motiveless violence and injury to horses. Equus is a fictional account of what Schaffer believes could have happened before the incident, helping to explain the psychology and reasoning behind the boy’s mysterious and disturbing crime. Equus follows closely the character of 17 – year-old boy Alan Strang, but also his psychiatrist, Martin Dysart. In this piece of writing, I plan to explain how we explored the play of Equus in a variety of different activities within our drama class. Response The play opens with Martin Dysart, the psychiatrist, performing a soliloquy that introduces the main themes of the play. Scene one is devoted entirely to this speech, which shows its importance and vitality. We learn much about Dysart from this speech. For example, the line â€Å"All reined up in old/language and old assumptions† illustrates how he feels trapped and frustrated in his life. In addition, he says, â€Å"I’m desperate† which shows his exhaustion and frustration. This Scene was particularly challenging to rehearse and perform for various reasons. For one, it is a long speech so there is the challenge of learning it. Also, you need to make sure that your volume, tone, and speed are correct. There are very few stage directions so there is the added difficulty of knowing how to act when performing, and how to show his pain and anger. It is also hard, when rehearsing a piece, not to lose its spontaneity – which is particularly vital in this speech. In Scene two, Dysart is visited by Hester Salomon, a magistrate and close associate of Dysart, and Alan’s horrific crime is revealed to the audience. The line Hester speaks is very simple, but tells all that is necessary: â€Å"He blinded six horses with a metal spike†. My initial response to this line was shock, revulsion, and horror, but at the same time I was intrigued why Hester thought Dysart would be able to ‘fix’ Alan (Does he have more power or authority than the psychiatrists?) My feelings, however, did change as the play unfolded and I became more understanding and less shocked as the question of â€Å"why did he do it† was explored. At the beginning of Scene three (and the end of Scene two), we are introduced to Alan Strang, who has committed this terrible act. In this scene, Dysart questions Alan, but rather than simply replying, Alan chooses to sing television adverts. This gives a very strange first impression. We later find out that Alan was forbidden to watch TV – so how does he know these ‘tunes’? This was a very difficult scene to rehearse and perform without laughing and it was amusing to watch. Another scene we studied closely was Scene seven. In this scene, Dysart goes to visit Alan’s parents, Mr and Mrs Strang. From this scene, we learn much about Alan’s upbringing and how events in his childhood may have subconsciously had a negative effect on Alan, and how it may have influenced what he did. One of the main factors that had a strong influence on Alan was his mother’s somewhat extreme obsession with religion. Dora Strang is a very religious woman, with strong Christian beliefs, whereas Alan’s father, Frank, is an atheist who is worried that Dora’s constant reading of the Bible to Alan has had a negative effect on him; â€Å"†¦it’s the Bible that’s responsible for all this†¦an innocent man tortured to/death – thorns driven into his head – nails into his hands†¦it can mark anyone for life†¦all that stuff to me is just bad/sex† In reading this scene, I think Schaffer wanted the audience to feel intrigued about the big part religion has played – also, in a conversation between Dora and Dysart near the start of the scene, she says: â€Å"Alan’s always been such a gentle boy. He loves animals! /Especially horses! This confuses the audience slightly because it makes you think that if he liked horses so much, why did he do such a terrible thing to them? This information enables us to understand Alan’s obsession with horses, later revealed in the play. The scene also draws very strong images of Frank and Dora, who are both very different from one another: Dora has unintentionally influenced her son with religion, and she is very upset over the matter: â€Å"I simply†¦don’t understand†¦Alan! (She breaks sown in sobs)†. Frank, on the other hand, seems to spend little time with Alan, and didn’t let him watch TV (Dysart): But surely you don’t have a set, do you? I understood Mr Strang doesn’t approve.† This may also have affected Alan because it prevented him from being like ordinary children – encouraging him to become weird. Schaffer creates a negative image of both characters for this reason, but also makes you pity them. They purposely mean to hurt Alan and are both shocked and distraught about what has happened. As a director, I would want to emphasise how the Strang family is very different from an ordinary family, Dora with her strong religious beliefs and Frank insisting on no TV. The third and final scene we studied in depth was Act 2, Scene 33. In this scene, Jill has lured Alan back to the stables – although Alan is reluctant and unsure of whether he should go. Scene 32: (Alan – to Jill) â€Å"The stables?† (Jill) â€Å"Of course!†Ã¢â‚¬ ¦ (Alan recoiling) â€Å"No!† Alan says ‘no’ to Jill three more times, but they still go. Later, in Scene 33, Alan insists that the door is locked. Also, in this scene, Alan becomes very uneasy. One reason for this is because he cannot go through with having sex with Jill and is humiliated, although Jill is very understanding. The other reason is that he believes that God has seen what has happened through the eyes of the horses in the stable. This is the reason why he blinded the horses – so God could not witness him committing a sin. This fear puts Alan in a distraught state that follows on to the act of him blinding the horses in the final scene. The corresponding activity I participated in was â€Å"hot-seating† Alan about that night. We took it in turns to play Alan, and each did our best to answer questions about the night in character. Development Freeze Frames After reading the play we spit into groups of five. In these groups we decided which three points of the play were the most important; or had the biggest impact on the audience and had to present them as three ‘freeze-frame’ images. The first point we chose to depict was in Scene 3; Dysart has just met Alan and is asking him various questions. We showed this by having Alan on Dysart’s ‘couch’ looking bewildered and confused. Our group also thought it would be a good idea to have three ‘onlookers’ looking in on them, wearing disgusted expressions. They represented Bennett, Thoroughgood, and the public who are mentioned in Act 1, Scene 2 – just before Hester reveals Alan’s crime. The second idea that we chose was Alan’s confusion about which parent he should listen to: his mother with her religious ideas, or his father who insisted on no television. To do this we sat Alan in the middle of the sofa, with Dora on one side reading an imaginary Bible, and Frank on the other pointing at Alan with a stern stare, frowning at Dora. The third and final image we chose was of the main event – Alan blinding the horses. For this we had three people as horses, with Alan standing in front of them looking terrified, confused, and angry. I think that the images we chose really captured the main points and essence of the play. The last one especially helped me to understand Alan’s motivation for this terrible act. The next thing we did was to rehearse the main scenes we had focused on: 1-3, 7, and 33-34. Everyone was given the chance to play Dysart in Scene 1 – him being the only character in the scene. This, as I have previously said, was a very difficult task due to the emotions conveyed and the tone required. In Scene 7, I played Dora. This I actually found tougher than playing Dysart because I found it more difficult to act her and was embarrassed when she read from the Bible. I also found it hard to speak in a ‘proud voice’ when she is reciting from a book called ‘Prince’ that Alan used to enjoy when he was younger. Monologue To capture the thoughts and feelings on the night of the ‘act’, I have written a one-hundred word monologue from Dysart’s perspective (at the end of the play): â€Å"There he was, sitting there with Jill, the stable girl. Alone together†¦but they weren’t alone†¦Equus was there; watching. Listening. Seeing. Suddenly, Alan caught sight of him. He knew that Equus had seen him fail†¦so God had seen him fail. He must stop God from seeing him. He has to prevent the horses from looking at him. God looking at him†¦he must blind them. All six. And fast. I have taken Equus from Alan. He is ‘normal’ – but at what cost, and to whom? Now Equus lives with me†¦there is, in my mouth a sharp chain. And it never comes out.† Directors Instructions Ultimately, Equus is as much about Alan as it is about Dysart. As a director, I would advise the actors to not just ‘act’ the character, but ‘be’ the character – learn and understand Dysart; how he feels, thinks, and accepts people, whatever they’ve done. I would want the audience to feel intrigued about Dysart’s complicated life and emotions, but also leave the theatre thinking about what will happen next†¦ Evaluation Interesting Points I found many things interesting in performing Equus and the themes it explored. One of the things I enjoyed in performance was the variety. For example there were humorous scenes – such as scene 3, in which Alan sings – but also more serious and dramatic, scenes as well – such as Dysart’s soliloquy in Scene 1. In performing, I also enjoyed the fact that it explored lots of different emotions: Alan’s madness and Dysart being, in a way, traumatised by his dreams of cutting up children. Equus also tackles a range of themes. The play, in itself, has an unusual theme right from the start. I can relate to the theme of religion as my mum is a Christian and my dad is an atheist. Film Adaptation In class we watched the film adaptation of Equus. There were many differences between the film and the play. I feel that the play works better and it has a more powerful effect on the audience. Also, I felt that in the film Dysart’s opening speech wasn’t as good as it could have been. The whole speech was just a close-up of his face, and the actor did not show much emotion through his features, or use it to his best ability. Performing the play myself was very different from watching the film or watching other people perform. When I performed the play, I was very surprised at how I found it easier to perform Jill and Dysart than the other characters. Jill I found easy because she is a similar age to me – so I could relate to her emotions and feelings. However, I can’t begin to understand why I found it easy to Dysart. I have nothing in common with him and he seems to be a very complicated character. It is possible that it was because he is so different that I found it easy to play him – the two extremes; someone similar to me and someone completely different. Another possible reason why I found him easier was because I think that when you start reading the play, you subconsciously choose between Alan and Dysart, and I chose Dysart. I found Alan hard to relate to. Even though we worked very hard in class to understand why Alan committed the crime, I didn’t fully understand unti l right at the very end – after the rehearsals. If I had had more time to prepare or learn Equus, I think it would have been easier because it was not until the very end of our work that I started to really understand it. Peer Evaluation One person in the group whose work really impressed me was Marc. I thought that Marc really connected with and understood Alan. He was really convincing and performed well in various activities. Even when he had to sing he did it with a lot of confidence and enthusiasm. Many of us would have been very embarrassed about having to do this – especially in front of peers. He really impressed me when we were doing the â€Å"hot-seating† activity. He had played Alan and we were asking him questions about the night of the ‘act’. What impressed me was how, when asked a question he didn’t know the answer to, he sang one of the tunes – because that’s what Alan does in the play when Dysart questions him. Overall, I really enjoyed working on, and participating in activities about Equus. I thought that the play was fascinating and exciting, but also interesting and stimulating.

Management: Samsung Electronics

Title of contents Executive Summary 1. 0 Introduction†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦1 2. 0 Political Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 2. 1 government stability†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦ 2 2. 2Government and contribution†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦2 2. 3 Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦2 3. 0Legal Environme nt†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 2 3. 1Regulatory framework†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 2 3. 2Business laws †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 3. 3Labour laws †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 3 3. 4 Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 4. 0 Economic Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 4. 1 Interest rate (%)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. †¦Ã¢â‚¬ ¦ 3 4. 2 Currency Exchange Rate ($)†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 3 4. 3 Economic Trends/ forecasts†¦Ã¢â‚¬ ¦. †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 4. 4 Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 4 5. 0 Socio-cultural Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 4 5. 2 Analysis †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 5 6. 0 Technological Environment†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 6. 1Technological infrastructure †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 6. 2 Communication networks†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 6 6. Logistics networks†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â ‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦. 6 6. 4 Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 7 7. 0 SWOT Analysis†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 7 8. 0 Recommendations†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦.. 8 9. 0 Conclusion†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ †¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 8 10. 0 References†¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦Ã¢â‚¬ ¦ 9 Executive Summary This report will discuss whether Samsung Group can establish a company in Malaysia.The report will be divided into two parts: external environment and SWOT analysis of the external environment. In external environment, it provides six sections which are political, economic, socio-cultural, technological and legal environment, each of them gives the analysis and suggestions to Samsung Group. Furthermore, the findings will be presented in the recommendation and conclusion of the report. 1. 0 Introduction Samsung group is the largest electronic manufacturing company in Seoul. The company mainly products electronics such as stylish phones, semic onductor and digital TVs. Samsung 2013) Now the company considering expanding the subsidiary company in kuala Lumpur, Malaysia. This report will focus on detailed analysis about the external environment of Malaysia. The aim of this report is to provide the evaluation of the external environment of Malaysia in context of electronics manufacturing industry. The investigation will report on the political, economic, socio-culture, technology and legal environment of Malaysia. The report will help the company do expansion of analysis opportunities & threats for Samsung in Malaysian electronics industry and assess strengths or weakness of Samsung.The report will discuss the possibility of expanding Samsung group operations in Malaysia. It provides the political, economic, socio-cultural, technology and legal environment analysis. Then it will cover SWOT analysis and provide recommendation. 2. 0 Political Environment 2. 1 government stability Malaysia is a federal constitutional monarchy i n Southeast Asia. The system of government is a legacy of British colonial rule. The head of the state is referred to as the king and selected every five year term.Compared with the other countries, the death penalty is still be in used, therefore, Malaysia’s crime rate is lower. Because of the Consolidate leadership, Malaysia’s political situation keeps stable in recent years, crime rate becomes down. (Malaysia information 2013) It shows the level of government stability in Malaysia is high. 2. 2 Government and contribution Malaysia serves as a bridge between the East and the West and also plays an important role in the world stage by establishing a long-term cooperative relationship with the other ASEAN members, such as China, South Korea and Japan.Government implements several plans and welcome outside investments. (Malaysia government information 2013) 2. 3 Analysis Depending on the political stability and global trading relationships, Malaysia can make a closer op eration with the other countries. With the mutually-beneficial foreign policy, Samsung Company has a great opportunity to operate smoothly in Malaysia. 3. 0 Legal Environment 3. 1 Regulatory framework Malaysia and South Korean do not have the similar legal system, Malaysia’s legal system is based on English common law while South Korean legal system is based on civil law. South Korean government) It means the Samsung Group would not be familiar with the regulatory framework. 3. 2Business laws Although there are some legal restrictions on certain products imported from other countries. (Malaysia business guide) The law allows foreign companies to import raw materials. (Malaysia customers) However, the corruption problem in Malaysia has become much more worse. (Corruption Malaysia’s top enemy) 3. 3Labour laws Malaysia labour laws have improved in recent years, there are age and working hour restrictions in Malaysia. (Malaysia labour law) 3. 4AnalysisThe government holds encouragement on foreign investment in Malaysia which presents an opportunity for foreign companies. However, due to Samsung Group is unfamiliar with the regulatory framework, it exists a threat to Samsung Company. 4. 0 Economic Environment 4. 1 Interest rate (%) The benchmark interest rate in Malaysia is 3. 00 percent. (Malaysia interest rate 2013)Malaysia’s interest rate is likely to keep unchanged in these years. (RUPA 2013) South Korean’s benchmark interest rate is 2. 75 percent. It means that the interest rate in Malaysia is higher than that in South Korean. Central bank rates) 4. 2 Currency Exchange Rate ($) Based on the exchange rate in March 2013, one Malaysian Ringgit equals 358. 31 South Korean Won. (Themoneyconverter 2013) With the exchange rate increased each year in Malaysia (Trading economics Malaysia 2013), Samsung Company will invest more money in Malaysia in the future due to the cost will be increased. However, it is also a chance for Samsung to earn more money in Malaysia. Therefore, this is not only a threat but also an opportunity for Samsung Company. Malaysian Ringgit to South Korean Won The money converter) 4. 3 Economic Trends/ forecasts Malaysia keeps one of the best economic records among Asia countries. GDP is predicted to rise by 4. 5% in 2013 and increase by 5. 4% in 2014. Over the next decade, GDP is expected to grow by 4. 2% a year on average. According to forecasts, one of the fastest growing sectors in manufacturing industry over the next 10 years will be electrial equipment. (Oxford Economics) Nowadays, Malaysia begins a transition towards a more multi-sector economic that means the economic forecast in Malaysia is strong. 4. 4 AnalysisAlthough the interest rate and exchange rate in Malaysia are high, the international trade ability of Malaysia is still locating in the forefront of the world. This kind of ability makes a great positive impact on the international stage. (Malaysia News 2013) 5. 0 Socio-cultural En vironment Hofstede South Korea Dimension| Malaysia| Managerial Implications| Collectivism VS IndividualIndividual| Collectivism| Work design – The Malaysia employees prefer to work in groups while the South Korea employees prefer to choose personal works.Overall, Samsung Company should organize teamwork to its Malaysia employees. | Power Distance Lower | Higher| Leadership – Power Distance affects the hierarchical order in an organization. Compared with South Korea, Malaysia employees accept hierarchical order more than Australian employees. Therefore Samsung Company’s manager should take autocratic style| Uncertainty Higher Avoidance| Lower| Planning – The planning in Malaysia employees would like clearly aims while South Korea employees prefer relaxed attitudes. It demonstrates that clear rules and regulations are more suitable for local employees. Time orientation Long| Short| Planning–South Korea employees prefer having a long time orientation, however, Malaysia employees are known to prefer having short time plans. Therefore, Samsung Group should set short term targets for its staffs. | Masculinity VS FemininityFemininity | Femininity| Rewards – The Masculinity and Femininity will have an impact on social competition, achievement and success. Both Malaysia and South Korea are similar in this level of Femininity. It shows that Samsung Company can perform female leadership in Malaysia. | (Hofstede, 2013) 5. 2 AnalysisAlthough both Malaysia and South Korea would be inclined to work with females, there are also several differences between Malaysia and South Korea. 6. 0 Technological Environment 6. 1Technological infrastructure Malaysia has the well developed technological infrastructure while (Asia’s New High Tech Competitors) the infrastructure in Malaysia is one of the best in Asia. (Invest in Malaysia) It demonstrates the brilliant infrastructures can maintain the good operation of Samsung Group in Malaysia. 6. 2 Communication networks Compared with South Korean, the telecommunication network in Malaysia is developing faster.Communication network in Malaysia is served by digital and fibre optic technology. (Invest in Malaysia) 6. 3Logistics networks The logistics networks in Malaysia cover sea, land and air transport modes. The Malaysia government will strengthen the management of roads and improve the quality of transport in the future. (Trade and Transport in Malaysia: overview of the logistics) 6. 4 Analysis The great Technological infrastructure, Communication networks and Logistics networks in Malaysia will provide an opportunity for Samsung Group. 7. 0 SWOT AnalysisStrength| Samsung Company has: * good reputation * high-quality products * large scale international corporation * strong financial resource * A strong market influence| Weakness| Samsung Company: * lacks business experience in Malaysia * the shortage of qualified personnel * no stable customers in local market| Opport unities| Malaysia has:Political environment-stable governmental environment -good trading relationshipLegal environment-improvement in labour and business lawEconomic environment-strong economic forecastsocio-cultural environment-similar in female leadershipTechnological Environment- Advanced Technological infrastructure – good communication networks- Convenient Logistics| Threat| Malaysia has:Legal environment-different regulatory framework to South Korea- corruption problemsEconomic Environment-high interest rate in Malaysia-high exchange ratesocio-cultural environment-used to work collectively-higher power distance-lower Uncertainty Avoidance-only achieve short time target| 8. 0 Recommendations Based on the analysis of external environment of Malaysia, it is suggested that Samsung Company should: *continue to produce high-quality products to make good reputation in Malaysia (strengths) * train more new professionals in local market (threats) *use the new technology and the political system to achieve mutual benefit (opportunities) *seek professional legal advices and the lowest cost supplies (threats) 9. 0 Conclusion Political, socio cultural and technological environment constitute opportunities for Samsung Company.However, the threat appeared in the different socio cultural, weak legal environment and the economic conditions will in recession in the future. According to this report, there are still more opportunities than threats. To sum up, from the current market environment, there are many favorable aspects for Samsung Company to be expanded in Malaysia. Word Count:1443 10. 0 References Alphabetical Index of the political entities and corresponding legal systems. 2013. University of Ottawa. www. juriglobe. ca/eng/sys-juri/index-alpha. php. Business area2013 Samsung http://www. samsung. com/au/aboutsamsung/ourbusinesses/index. html South Korean Interest . 2013. Central bank rates. www. bok. or. kr Malaysia information technology reportQ1. 2012 .B usiness Monitor International. January http://search. proquest. com. dbgw. lis. curtin. edu. au/docview/919719232/13D455FB3221B7702F2/1? accountid=10382 Rupa Damodaran 2013. â€Å"Malaysia’s key interest rate expected to remain unchanged in these years. † Business times April 201 82 (11): 14-15. Currency Converter Widget. 2013. XE. COM INC http://themoneyconverter. com/MYR/KRW. aspx Malaysia Interest Rate 2013. .trading economics. http://www. tradingeconomics. com/malaysia/interest-rate Asia’s new high tech competitors. 2013. government statistics http://www. nsf. gov/statistics/s4495/conten3c. htm Invest in Malaysia. 2013 Malaysian investment development authority. ttp://www. mida. gov. my/env3/index. php? page=invest-in-malaysia South Korea economic. 2013. south korea government. www. southkoreagovernment. com Malaysia labour laws. 2013. laws, Accessed Feb 6 www. azminias. com/MALAYSIAN. %20LABOUR%20Lw. doc Malaysia Information. 2013. Malaysia journey. http:// www. tourism. gov. my/en/au Malaysia Hofstede 2013 South Korea Hofstede http://geert-hofstede. com/malaysia. html Malaysia Interest Rate. 2013. Trading Economics http://www. tradingeconomics. com/malaysia/interest-rate Malaysia’s top enemy. 2013. Malaysia story http://www. asiaone. com/News/AsiaOne+News/Malaysia/Story/A1Story20091225-188007. html

Impulsive buying in luxury consumption among Chinese consumers ( table Dissertation

Impulsive buying in luxury consumption among Chinese consumers ( table of contents ) - Dissertation Example The number of affluent households (whose annual income exceed RMB 250,000) in China is expected to reach 4.4 million by 2015. With the growing affluence in China and the demand for luxury brands on the rise, marketers need to evaluate the needs and wants of the luxury consumers. Thus, with the aim to evaluate impulsive consumer buying behaviour in the luxury segment in China, three objectives were stated and all the three objectives have been met. The study finds that consumer buying behaviour is influenced by the internal and external factors. The thought process and emotions behind consumer decisions, the environmental variables, the motivations, the individual differences and personal factors influence the purchasing decisions. The Chinese consumers associate luxury goods and consumption with culture and history, although some did associate luxury with price. Most Chinese consumers demonstrate Veblen, Snob and the Bandwagon effect, while some do lay emphasis on their own thoughts and feelings (hedonists). The Chinese consumers do attach importance to price but not too much significance to the CoO (Country-of-Origin) possibly because they follow what the others do. Culture influences the psychological factors in the luxury segment. The psychological factors include perception, attitudes, and motives towards luxury consumption. Chinese society is a collectivist society where conforming to the societal norms comes naturally to people. The growing affluence has enhanced the trend towards luxury consumption. The Chinese consumers find luxury brands deliver psychological values as it enhances their self-esteem and self-confidence. Since the Chinese consumers are affluent, status-seeking behaviour was found to influence luxury consumption. Such consumption satisfies their inner drives and gives them self-fulfillment. The Chinese consumers demonstrate impulsive buying behaviour in luxury consumption. Self-esteem and enhancing social status appear to be the strongest motivators in impulse purchase of luxury goods. Because of the impulsive tendencies they may become compulsive buyers as well. The study concludes that the consumerism has changed the way people consume. The definition of luxury too needs to be redefined as it is no more the prerogative of a few. As affluence has grown consumerism and materialism has grown which in turn has changed buying behaviour. The motives, attitudes and perceptions have undergone change and this change is ongoing. Consumers are becoming impulsive in their buying behaviour and this is predominant even in luxury consumption. The task for marketers is complex in trying to segment, target and position luxury brands. However, since impulsive buying does exist in luxury consumption, promotions can be designed to stimulate impulsive buying. The study concluded by suggesting area for further research on the subject. Table of Contents Chapter One: Introduction 1.1 Background 1 1.2 Rationale for research 2 1.3 Research Aims and Objectives 3 1.4 Structure of the Study 4 Chapter Two: Literature review 2.1 Chapter Overview 5 2.2 Consumer buying behaviour 5 2.3 Stages of consumer buying behaviour 9 2.4 Types of consumer buying behaviour 11 2.5 Factors affecting consumer buying behaviour 15 2.6 Luxury buying behaviour 18 Chapter Three: Methodology 3.1 Research Philosophy 22 3.2 Purpose of the research and phenomena 22 3.3 Epistemology 22 3.4 Research strategy 24 3.5 Data

Parenting of adolecents Essay Example | Topics and Well Written Essays - 500 words

Parenting of adolecents - Essay Example Parenting is harder in this current world because many parents do not seem to know when too much fear is too much, or when they are not displaying enough concern. Some parents fear more than they should, which often results in their adolescents being uncertain and scared of the world. Instead of growing up and exploring the world that is available to them, they prefer to remain under the protection of their parents -- something that many parents are more than happy to offer if it means not having to let go of their children. Stepping back enough to let their children grow and move on is perhaps the hardest part of parenting in general. There are parents that do not feel that they have taught their children everything they need to know about growing up and living on their own. Due to this, some parents just increase their overprotection, which can be seen as an unconscious attempt at keeping their children from leaving. Parents seldom know when they have taught their children all that they can to prepare them for the world. Unfortunately, this is when many of the unfounded fears come out. As a result, a parent can either push their child away, or they can make their children have their own unfounded fears.

COMMUNITY PROJECT ABOUT HIV Essay Example | Topics and Well Written Essays - 2500 words

COMMUNITY PROJECT ABOUT HIV - Essay Example However, scientists are working extra hard to find a cure. The enormity of the effects of HIV/AIDS attests to the fact that it continues to be a huge global health and social problem. According to the UNAIDS’s World AIDS Day Report of 2011, about 34 million people had HIV, indicating a growth of up to 17 percent since 2001. In 2010 alone, the UNAIDS reported that new infections stood at 2.7 million people. Besides being a health issue, HIV/AIDS is a huge social, cultural and development problem, which is spreading rather fast among women, young people and working-age adults. Thus, HIV/AIDS negatively impinges on the economy, society, family and schooling in a country hence, weakening the entire world. Whenever a portion of the population contracts HIV/AIDS, the economical growth and status of the world is negatively affected. The scourge thus reduces the labour force while demands on already overwhelmed governments and economic and health care systems increase (Gardner et al., 2013). The other reasons HIV/AIDS is particularly a big problem in poor and vulnerable countries and communities are lack of resources to treat and help HIV/AIDS patients, overburdened health care systems, expensive and inaccessible HIV/AIDS medication, and cost of HIV/AID treatment compares unfavorably with the GDP of most poor countries (Gardner et al., 2013). Resources for campaigning and educating the public on HIV/AIDS and on risky behaviors are also scarce. Finally, many people and societies are quite reluctant to discuss risky behaviors and HIV/AIDS, which are considered taboos in certain communities. Citizens, corporate organizations, local and state governments, NGOs, and the international community should thus combine effort to thwart the scourge. Through this project, stakeholders will create HIV/AIDS treatment and response health policies, expand care and treatment, improve teacher training, AIDS education, and social programs, protect children, and do further research on HIV/AIDS an its effects (Gardner et al., 2013). HIV/AIDS Statistics for Miami-Dade County Miami-Dade County, also referred to as the  Greater Miami is situated in the southeastern portions of  Florida. Dade is the most populous county in Florida with the population standing at 2,496,435 as of the 2010 census. In fact, it is the seventh most populous county in the U.S. With a land area of 1,946 square miles (5,040  km2), Dade has the third largest land area in Florida and has an estimated half of the  Miami metropolitan area's population and several of Florida’s largest cities. With 35 incorporated cities and many unincorporated areas, many parts of the northern, central and eastern regions of the county are heavily  urbanized.  Agricultural land constitutes nearly a third of Miami-Dade County's inhabited land area. Unlike the densely populated urban areas in the county’s northern sections, the agricultural areas are sparsely populated. According to the U .S. Census Bureau’s 2012 Ethnic/Race Demographics, White Americans constitute about  77.6% out of whom16.3% are Non-Hispanic Whites. On the other hand, African Americans constitute 19.2%, Asian: 1.7%,1.2%, American Indian and Alaska Native: 0.3%, Hispanics or Latinos  of any race: 64.3%, and Native Hawaiian and Other Pacific Islander:  0.0%. A county-by-county analysis of the FloridaCharts.com reveals that Broward,

Contract law Coursework Example | Topics and Well Written Essays - 3750 words

Contract law - Coursework Example The paper defines a contract as an agreement between two parties or corporations that creates legally binding obligations and rights as pertains to the concerned entities. Contracts form the bulwark of communication, understanding and conducting business between two entities: individuals, or Business Corporation. Parties to a contract need to be very sure of the requirements of the contract and their stake in the endeavor, otherwise, they stand to lose financially extensively. This therefore means that for a contract to be sound: it has to involve two parties, there has to have been an agreement reached by the two parties and the contract must create legally binding rights and obligations. Litigation against a fellow passing by customer is invalid. To begin with, there is no contract arrived at by Arju and the fellow customer. Law defines their agreement as idem (mind agreement) but not a contract that is legally binding to both parties. This translates that litigation against the fe llow customer is null and void. This is since the customers’ information is not reliable and also the fellow customer has no duty of care towards Arju, this shield him from any litigation as a result of the information rendered to Arju and the consequences thereafter.Secondly, Arju cannot succeed in suing the fellow customer for compensation on the basis of caveat emptor (buyer beware). This is affirmed in a court ruling involving Smith v Hughes involving the sale of oats between the litigating parties. The plaintiff exhibited oats for the defendant to sample prior to the actual purchase and the defendant never complained. However, upon delivering the oats to the defendant, the defendant rejected them on the prospect that they were old and the plaintiff sued the defendant for compensation. In an appeal hearing, it was ruled that the seller acted in the best of interest and the buyer should have been aware of the shortfalls of contracts and not blame it on the seller. The cour t therefore revoked the litigation by the buyer. On this basis, by the fellow customer merely suggesting that Arju purchases the AK 47 water squirt as the ideal power washer, the liability for its non performance did not befall him. Arju should have been more careful and have adequate information on the best power washer and also be aware of the shortcomings of the power washer he was compelled to buy. It is evident that litigation against the fellow customer by Arju would not be successful2. A2. A sales assistant from the home decorating department who assures Arju that the store sells quality equipment, yet he has received over 200 faulty equipments in the past four hours Arju would successfully file litigation against the home decorating department assistant on the basis of misrepresentation. This is since the misrepresentation by the home decorating assistant has the four qualifications for a successful compensation to Arju as will be outlined. To begin with, the misrepresentati on was a statement. This statement is classified as a half truth as held by Lord Justice James in Arkwright v Newbold3 where he asserted that even if everything previously said is true but some information id left out, it qualifies to a false statement and consequently to misrepresentation. Even where the participants in the negotiations have no direct relationship with each other,

Congress Coursework Example | Topics and Well Written Essays - 250 words

Congress - Coursework Example If not, the whole process will be repeated again. It is, therefore, estimated that only 10 percent of the bills are processed ahead and becomes a law. It is necessary for a bill to go through three houses such as committee consideration, floor debates and conference committees. Bill Every new bill is passed to committee consideration with a subject matter. The government officials and experts give their opinion on the particular. Later, the committee decides to forward the bill further to the floor. Floor debate is liable to set time and rules for the debate. Senators are allowed to speak on their desired bill without any time limit. Therefore, this rule is considered as a filibuster for stretching the duration of a bill. When the bill is controversial or important then it is moved forward to steering committee which is the third step. The bill is then passed to upper house and lower house again after which it moves to the president for final signature (ushistory.org, 2015). On March 30, 1995, Larry Pressler introduced a bill of telecommunication in American Senate. The Senate committee of commerce, science and transportation considered the bill and it was subsequently passed by the senate on June 15, 1995. On 12th October 1995, the House also passed the bill. The Bill of Telecommunication was signed by the president William J. Clinton on February 8, 1996 (Paglin, Hobson, & Rosenbloom,

Changing Working Practices in the Music Industry Essay

Changing Working Practices in the Music Industry - Essay Example One such case in point is the deal between the record company EMI and singing sensation Robbie Williams. The $80 million deal which was signed in 2002 allowed the record company to share the profits during his world tours and his merchandising profits. According to a music business consultant, in the year 2010 the sale of albums will contribute only 30% of the total profits, whereas the other 70% would comprise of merchandise sales as well as sales from musical tours. Keith Negus (1999, p.22) comments ‘While portable CD players, Walkmans and car stereos have made recorded music increasingly mobile, the products of the film industry must still be watched in the cinema or at home on a video machine.’ Four of the major record companies in the world are Warner Music, Sony/BMG, Universal and EMI. For a long time, they had monopolized the music industry but now the trend seems to be changing. On such example is the band Enter Shikari, which has released their debut album under its own record label. Many such examples abound in the music industry, and this is making the major record companies see red. EMI and Universal has already started to retrench, EMI having laid-off almost half of its employees. Keith Negus (1999, p.15) states ‘That the major entertainment corporations are continually seeking to control and thus maximize their profits from cultural production is a point that has been repeatedly emphasized by political economists.’ The only glimmer of hope of the major record companies is the potential of earning profits from the burgeoning internet download market. Some experts believe that record companies tying up with major download sites will help the record com panies to stay in the profit books for a longer time. It’s clear now where the music industry is drifting to. According to the American music industry trade body RIAA, the number of paid downloads from internet sites is on

Response Paper One Assignment Example | Topics and Well Written Essays - 500 words

Response Paper One - Assignment Example Most of these issues point to the knowledge-preparation of nurses and delivery of a compassionate care. Nursing educators and students promote learning and competence by changing the methods used in learning nursing concepts. It has been identified that nursing education placed less emphasis on rote learning and memorization and greater emphasis on locating and understanding information or critical thinking. Does this mean that nurse educators should not require learners to memorize information such as the classifications of medications or normal blood values? Does the emphasis on finding information rather than memorizing it impact critical thinking skills of learners? Memorization vs. Critical Thinking Students who used memorization as a learning strategy are viewed as passive learners(Cherry & Jacob, 2005, p. 72). Memorization familiarized the students with different nursing concepts and serves as guide during academic evaluation and examinations. However, nursing education today face the challenge of an ever-changing treatment modalities and technological advances. The health care environment become increasingly complex, researches are updated, and care centers on patient and evidence-based practice.

Haitian revolution Essay Example | Topics and Well Written Essays - 250 words

Haitian revolution - Essay Example This meant more slave labor among the Africans who made up the majority of the population. Later, in 1971, the mixed-race group planned a huge revolution demanding for their civil rights, whereas, the whites divided into royalists building tension between these groups. The violent revolution was aimed at achieving racial equality, slavery end, and nation’s independence. I agree with the fact that the Haitian revolution was far more revolutionary than the American because despite horrible human, financial and social expenditures, the Haitian revolution was successful in instilling the concepts of democracy and equality far beyond the levels achieved by the American Revolution. In addition, the Haitians were focused in eliminating slavery as one of their political objectives. This was achieved because it later became an independent country with same racial rights and no slavery, whereas, the United States of America only had a representative administration, where only the minori ty male population were allowed to vote and slavery was still practiced. Although the Haitian economy, social and political status faced destruction, it finally achieved its political

Wireless networking Essay Example for Free

Wireless networking Essay With the current application of 802.11b wireless solution Highbrow Ed is using, hot spots are inefficient for application delivery, and to manage the bandwidth they will need for the collaboration and expansion required in the future. An upgrade to an optimized Wireless LAN (WLAN) architecture will solve all of their business needs. While an 802.11b/g model for wireless networking using a traditional centralized WLAN switch might work, this solution is very expensive and has several limitations. This type of model is prone to inefficient application delivery, performance bottlenecking, and having a single point of failure depending on the health of the centralized WLAN switch. Upgrading to an optimized WLAN architecture, using 802.11n technology, provides Highbrow Ed with a scalable, efficient, high-performing wireless network. An optimized WLAN architecture combines the advantages of central management and addresses the limitations of having a central wireless switch. Optimized WLAN consists of intelligent Access Points (Aps) and a WLAN controller. The APs forward traffic and enforce security and prioritization policies, while the WLAN controller centrally manages and controls all APs. The APs dispatch all traffic directly from source to destination without requiring a detour to the controller. The optimized WLAN architecture, with its distributed traffic forwarding, will not require Highbrow Ed to significantly change their LAN backbone. Highbrow Ed will need to upgrade their WLAN infrastructure to migrate from the 802.11b network to 802.11n network. However, Highbrow Ed will see an increase in productivity and enhanced collaboration solutions. The conversion to the 802.11n architecture will increase their area of coverage for the campus both in the structures and outdoors. 802.11n boosts network capacity and speed up to 600Mbps, and supports voice and data transfers.

Religious Imagery In The Godfather

Religious Imagery In The Godfather Describe the religious imagery Coppola uses during the Baptism scene at the end of the Godfather. How is this ceremony used to heighten the tension of the scene? What statement (if any) is he making by cross-cutting between the murders and the ceremony? The Baptism scene is one of the most exceptional scenes in the Godfather movie because Coppola-the director- combined visuals, language, music, and editing in a very powerful way. To summarize the scene, Michael, the Godfathers son, sets up himself as the new Godfather and settles the family issues by ordering him men to murder his enemies. In this scene, Coppola uses montage editing to cut between those two scenes back and forth, as if he is trying to demonstrate a point about Michael. Coppola wanted to present Michaels complex character as an evil and good man at the same time. Also, Coppola used close ups during the scene to emphasize it more. In the Catholic Church, the priest was using Latin in the baptism; he shifted to English when he asked Michael questions about faith. This shifting between Latin and English was used to underline Michaels contrast between what he is saying and the murderous actions that he orders. The scenes in a film can be edited by either continuous action or parallel action. As for editing the baptism scene, a parallel action was used wisely to present Michaels personality and life. Cutting back and forth between scenes can be helpful to present events that happen at the same time. The parallel action highlighted the dishonesty and the darkness of Michaels soul and personality. Add to that, it presented the double life that he will live as the head of the family. Coppola used the image of the innocent baby, who is being washed for purity and sinfulness, to contrast it with Michaels life that is filled with sins and darkness. A rising action was starting; Michaels men were preparing for the murders and the priest was preparing the baby. Then the scene reached the peak when the priest asked Michael if he renounces Satan. The scene cut to the first murder of mafia, then cut back to Michael saying I do. The shifting between Michaels men preparing for a Mafia war and the religious ceremony getting started highlights the tension, the lies, the darkness, and the contrast of this ceremony. At the time where a baptism should be a religious ceremony to clean the soul from sins, the scene presented the opposite of that. We can see the hate and the shadow thats around Michaels life, as if this ceremony was a lie. Coppola was able to clearly present the complexity of Michaels soul and how each murder stresses out a new meaning. Combining the two events in one scene emphasizes Michaels title as the Godfather. We can clearly notice how Coppola used the four elements of filmmaking (Mise en scene, sound, cinematography, and editing) in this one scene to create the perfect atmosphere. Coppolas choice of using a religious music during the ceremony didnt change during the murders. However, he manipulated the level of sound by increasing it during the killings and decreasing it during baptizing the baby. As a result, the level of tension, fear and pressure increased, and the audience was able to see the real Michael. Michaels true personality was being revealed as the family man who deals with crime and murders. Using different lighting techniques during the ceremony was a clever move by Coppola. He focused the sun light only on the altar where the priest was baptizing the baby. However, he darkened most of the altar and especially the statute of Jesus Christ that was directed toward Michael. Michael being in the light and Jesus in the dark can imply or suggest the differences between them. People may see the use of lighting as a symbolic method to reveal Michaels duplicity. Especially when he rejected Satan in words, while, his men were murdering his enemies. To conclude, Coppola tried hard to introduce Michaels character and personality through the baptism scene. His way of using the simplest techniques to reach the point where people can really analyze the character, was powerful. Not all directors can demonstrate the different feelings that audiences felt throughout the scene. If this one religious scene created this amazing feeling of fear, dishonesty, and faith, what about the entire film? The Baptism ceremony was established to compare between Michaels life and what he pretend to be. Add to that, the cross-cutting between the murders and the ceremony helped showing the evil side of Michael. Coppola had the choice to separate the murders from the religious ceremony, but he chose to combine them to create this anxiety and nervousness feeling. Combining them was a success because the audience was able to live the scene and to understand each character aside. Some historians argue that films reflect the political and social mores of society at the time of its creation- is this an accurate statement? Is this subject matter of the movies we have watched driven by society or does society drive the entertainment industry to create films within a specific moral, social, or political context? Discuss. Coppola, one of the American directors who created powerful films with strong personal appeals, may share some of the cultural, social, and political mores that most American have. For example, after watching the Godfather, we cant help but say that it expresses some social or cultural mores that directors usually have with their audience. Godfather clearly reflects the American society in many ways: the mafia wars, the killings, and the family relationships. According to Quart and Auster (2002), the movie industry tries hard to perfectly utilize some social values to attract audience, who is most likely accepting those values and living on them. All films can be considered political as the Batman movie (1989) that point out several views about the American reality. However, we cant say that all cultural and political views in films can relate to audiences social and political beliefs; it is difficult to relate to them all the time. Most of the American films try not to eliminate the social patterns. Producers usually try to stylize the cultural or social world to let people live in this bubble of thrill or to let them escape the emotional reality. Films are usually built around the audiences dreams, the individuals heroism, or the individuals personality. In fact, this is what most Hollywoods movies are based on. We can see that from Home of the Brave to Platoon films, where the political events were included to define some characters fate or feeling. For instance, the producers in Platoon film included the Vietnam War to define and show the soldiers journey that he goes through. (Quart and Auster, 2002) When the U.S has entered World WarII, the film industry tried to support the war effort by producing some documentaries and short movies about the war. Also, the OWI (the office of War Information) joined the film industry to spread notion among people about supporting the war, and to maintain awareness about it. For example, during the war, Basil Rathbone has played as the brilliant detective Sherlock Holmes who defeated Nazis inhumanly acts. The film industry and the OWI were concerned about the rising tension in the society because of the war. Therefore, they wanted to create a national unity between people, and to present the U.S. as a unified country. Hollywood placed an effort during the war by producing movies. For instance, Hollywood realized that women had been left behind because their men joined the army; therefore, Hollywood produced series of films about how these men are scarifying themselves and their families, and how they are contributing their souls for war. This type of drama pleased and helped many people during the war especially women, who were presented as the supportive spouse. Hollywoods box offic e hit a new level because of people admiring the drama of these womens lives and their support for their brave men. (Grainge, Jancovich, and Monteith, 2007) After stating all these facts, I would have to say yes films reflect the political mores of society but not necessary directly; it could touch the audience in many simple ways. Films can be liberal, conservative, or confused when it comes to political events, and analysts are still trying to figure out the connection between them and the society. However, films are a reflection of the society because most movies now a day present part of our daily lives. Films present partly what a family, a teenager, a soldier, a child, and a woman go through every day. For instance, the movie New York talked about how the 9/11 has changed the life of three students who were studying at New York State University. This movie reflected many aspects of society, politics, war and darkness. Add to that, people are able to see the corruption and the dishonesty of the business world by watching the Corporate movie. It presented how women used their femininity to get jobs, how people killed others for silly excuses, and how teenagers took drugs and got pregnant. These entire movies clearly reflect the society as a whole, as if they are the mirror of societys culture and politics. Of course, there are other types of movies like fiction or animation movies that are produced to create a new world for some audience. To conclude, I believe that movies are driven by society and society is driven by them too. In fact, Movies are produced for people, and because people need them to escape their everyday routine. As a result, people get affected by many stories, actors, and styles presented in the movie. People, especially females, tend to follow the trends and fashion of movie stars, and they try to be them in every way possible. The images of these movie stars affect society as a whole. Lets take Hanna Montana films and series as an example for how teenager girls were copying her style, her clothes, and her life. We cant deny that society is driven by films, and that movies are driven by society because each one of them is connected with the other. They both complete each other. Society, especially since the last decade, is getting affected by movie stories; everyone wants to re-live them. Films in general are created as tools for people to perfectly reflect their economy, culture, and politics. Fi lms basically present societys values and beliefs at a certain time and place; each film reflects a certain era and a certain issue. Filmmakers always try to connect with audience through presenting something that may touch their lives or experiences. Finally, Films are now basically part of our lives, routine, and activities.

Good Morning Vietnam And Apocalypse Now Comparison Film Studies Essay

Good Morning Vietnam And Apocalypse Now Comparison Film Studies Essay In the film Good Morning, Vietnam Adrian Cronauer is described, who arrives in Saigon in 1965 to take the place of a disc jockey at the local military station.  He immediately turns upside down the boring routine radio into the exquisite rock and roll, and adds a sharp sense of humor, becoming a legend among the soldiers, and a headache for authorities.  In his spare time from the radio shows, Adrian meets with Vietnamese girls, drinking beer and having fun, but only until the moment when he leaves the restaurant and it explodes.  He realizes that Vietnam is not a resort, there is a war where people are dying, and about which he is strictly forbidden to speak on the radio because of strict censorship.  He tries to tell the truth, but gets an advice at first not to spoil the format, and then he is sent home.  Adrian is leaving, but on the way to the aircraft he no longer sees the funny guys, but those, who will die soon The main plotline of the movie Apocalypse Now is the story of Special Forces of Captain Willard, who was sent to the jungles of Cambodia to eliminate the insane Colonel Kurtz, who commands a detachment of local residents and accused of killing several Vietnamese.  During the trip to Willard occurred a lot of strange events, and under the influence of the environment he is the closer to the goal of gradually losing the sense of reality and ceases to understand what to do next.  Many critics believe that the film, as Joseph Conrads novella, takes the viewer deep into the human psyche, and the war is only a backdrop for the manifestation of those human qualities that usually do not lie on the surface. And the film Good Morning, Vietnam describes Vietnam in 1965 yet relaxing resort with hot sun, beautiful girls and freely by the service.  But one morning there is a deafening explosion Adrian Cronauer immediately became the enemy of high officials.  And indeed, the humorist with the jokes and unpredictable behavior is a real threat to military discipline. But when on the radio there is heard his famous greeting Good Morning, Vietnam!, it seems that in this sunny country will never come the night The movie Apocalypse Now after its premiere in 1979 caused many conflicting responses from the audience some enthusiastically praised the movie, while others showered it with abuse.  Some critics wrote that the movie is too pretentious, others said that the film ends unclearly.  On the other hand, Roger Ebert, who declared Apocalypse Now the best film of 1979 and added it to your list of great films, wrote: Apocalypse Now is the best film about Vietnam, and one of the greatest ever filmed, because he moves much farther than everyone else in the dark corners of human soul. It is not so much about the war, but about how the war drags on the surface of a truth about the people that they would prefer to never know. As a fact, the film Good Morning, Vietnam received the awards, such as Golden Globe Award for Best Actor (Musical or Comedy) -to Robin Williams, the film was also nominated for an Oscar in the category Best Actor (Robin Williams) and a nominee for British Academy of Film, in the categories of Best Actor (Robin Williams), and Best Sound. And a film Apocalypse Now received such awards as Cannes Film Festival: Grand Prize (Golden Palm), 1979; Oscar for Best Cinematography, 1980; Oscar for best sound, 1980; Golden Globe Award for Best Director (Francis F. Coppola), 1980; Golden Globe Award for Best Supporting Actor (Robert Duvall), 1980, and Golden Globe Award for best music for the film (Carmine Coppola and Francis F. Coppola), 1980. The film Apocalypse Now became widely known in the press long before its release due to the long and difficult process of filming.  Coppolas wife Eleanor later wrote a book that talked about how the film was shot, and she also participated in the creation of the documentary film Heart of Darkness: Apocalypse movie maker, which tells about the making of the film. Both films Apocalypse Now and Good Morning, Vietnam have described the Vietnam War from different angles. These films have common stories lines and different views and understanding of the details of the war. Both films show the sad reality of the war, despite the fact that the directors use the different approaches to describe the war.

Examine The Social Conditions :: essays research papers

The decision to colonise New South Wales in the late 18th century was influence by a number of social and political situations, which developed throughout Britain in the 18th century. The British society was dramatically changing due to the Industrial Revolution, soaring birth rates and higher age of death. The dramatic rise in the birth rate led to a lot of people being unable to find work and in desperation turning to crime. In 1776, Britain lost America as a colony and also a place to send their convicts. British jails were in desperate ruin and ran in appalling condition. They were also overflowing and Britain needed to find a way to accommodate all the prisoners. The Industrial Revolution took place primarily between 1750 – 1850. It was a time of dramatic change in Britain. Due to the increase in national wealth, generated by economic growth the gap between rich and poor was becoming wider. ‘Many wealthy people took the convenient view that this social order had been ordained by God and should not be interfered with.’ People before the Industrial Revolution manufactured goods in their own home, which was gradually phased out by factories. This meant for some a job in a factory under very harsh conditions and for others it meant unemployment, which led to idleness and also poverty. During the Industrial Revolution the general health of people increased. Nothing compared to what we are today but a big change for the British. One thing that helped improve their health was the manufacture of cotton. People started to wear clothes made of cotton. The cotton was lightweight and could be washed unlike the heavy woollen clothes, which were unable to be washed, and were usually full of vermin. The population during this period was increasing dramatically. From 1700 – 1740 the population stayed at around 5.5 million but by 1750 it had soared to 6.5 million. The rising birth rate and an increase in the age of death were very important factors to the 18th century Britain. The lowering of the death rate meant more young people were surviving to have children of their own. The rise in the birth rate contributed largely to the overwhelming crime rate. Britain now had an influx of young people facing unemployment – something in such a large scale, that Britain had never faced before. Crime was often a form of desperation and many of the young faced crime or starvation.

Web Portal :: essays research papers

The Problem with the Existing Architecture: The company has multiple standalone computing solutions and applications which it acquired through the purchase of provider companies. These systems are not fully integrated and are not compatible. They do not share data in real time making communication, access, and interoperability difficult. The current system does not provide a well designed and unified solution for customers. The different provider companies that XYZCorp has acquired currently have their own customer relationship management (CRM) systems. Currently, it is not possible to have interconnectivity and functionality between providers and external sources, causing customers to be unable to take advantage of and fully benefit from the range of services the company has to offer. Also, web technologies are not being used to their potential and backend applications are not integrated. A customer web portal, which can help to integrate services such as buying, selling, delivery, payment and overall customer support, is non -existent and a deterrent to overall consumer satisfaction and business growth. What is a web portal? In terms of defining exactly what a web portal is, it is important to understand its significance and role in business and technology. A portal can be thought of as a single, main gateway into an assortment of content. More specifically, a web portal is often the main starting point for an online user/web surfer. Web portals often consist of a collection of loosely integrated features with many resources and links to different services. They have become commonplace in today’s technology-driven lifestyle whereby web surfers utilize portals such as www.yahoo.com or www.msn.com. These websites are solid examples of web sites that have expanded to become a point of entry onto the information superhighway. These sites, just like many others that fall into the same category of â€Å"web portal,† provide a user with a number of features, content, and resources, such as links to information, news, and people as well as the ability to search the web. Businesses can benefit from this kind of technology by providing a web portal as the chief starting point for customer exploration and contact. Furthermore, a web portal is vital for a corporation that utilizes e-commerce. E-commerce refers to the retail, service, and business to business industries that make use of the web to facilitate the exchange of products and services between businesses, consumers, and manufacturers. A web portal can act as the starting point for a company that has introduced e-commerce into the way they do business.

Free Essays - Adventures of Huckleberry Finn :: Adventures Huckleberry Huck Finn Essays

The Adventures of Huckleberry Finn, a renowned novel by Mark Twain, is the story of a young boy, who, in a desperate attempt to escape his abusive and poverty stricken home, escapes and seeks help with the Mississippi River, where he experiences many different trials. The novel was finally published in 1885, being written on spurts of inspiration interrupted by long periods during which it sat on the author’s desk. Now it is published in at least twenty-seven languages. Samuel Clemens, the name that lies under the pen name of Mark Twain, was born in Missouri in 1835. The town where he lived, Hannibal, Missouri, became the model for St. Petersburg, the fictional town of Huckleberry Finn. Missouri was a slave state during this period, and his family owned a few slaves, who worked as domestic servants rather than working on the large agricultural plantations as most slaves in the deep South did. The institution of slavery is prominent in the development of the themes and characters of the novel. Twain received a brief formal education before going to work as an apprentice in a print shop. He later found work on a steamboat in the Mississippi River where he took his pseudonym, â€Å"Mark Twain,† from the call a steamboat worker would make when the ship reached two fathoms. He eventually went to work as a journalist and then as a humorist. Twain is also known to have written The Gilded Age (1873), The Prince and the Pauper (1882), Life on the Miss issippi (1883), and Tom Sawyer (1876). The Adventures of Huckleberry Finn outlines the different experiences and developing friendship of the novel’s two main characters, Huck and Jim. Huck, a young boy trying to escape from his life, and Jim, a black slave, wanting to escape from being sold to a farmer in the deep South, join together to sail on the Mississippi River to the Ohio River, which would lead to their freedom, but they miss it in the dark. Huck faces a moral dilemma in helping a slave, but never finds a good enough reason to turn him in, and as a result, the two develop a special bond. Written with much dialogue from the southern dialect, the story depicts a southern society from the mid-1800’s, which is very gullible, and easily manipulated. The tale is full of humor in its accounts of the pair of escapees, but it is full of underlying meaning. Free Essays - Adventures of Huckleberry Finn :: Adventures Huckleberry Huck Finn Essays The Adventures of Huckleberry Finn, a renowned novel by Mark Twain, is the story of a young boy, who, in a desperate attempt to escape his abusive and poverty stricken home, escapes and seeks help with the Mississippi River, where he experiences many different trials. The novel was finally published in 1885, being written on spurts of inspiration interrupted by long periods during which it sat on the author’s desk. Now it is published in at least twenty-seven languages. Samuel Clemens, the name that lies under the pen name of Mark Twain, was born in Missouri in 1835. The town where he lived, Hannibal, Missouri, became the model for St. Petersburg, the fictional town of Huckleberry Finn. Missouri was a slave state during this period, and his family owned a few slaves, who worked as domestic servants rather than working on the large agricultural plantations as most slaves in the deep South did. The institution of slavery is prominent in the development of the themes and characters of the novel. Twain received a brief formal education before going to work as an apprentice in a print shop. He later found work on a steamboat in the Mississippi River where he took his pseudonym, â€Å"Mark Twain,† from the call a steamboat worker would make when the ship reached two fathoms. He eventually went to work as a journalist and then as a humorist. Twain is also known to have written The Gilded Age (1873), The Prince and the Pauper (1882), Life on the Miss issippi (1883), and Tom Sawyer (1876). The Adventures of Huckleberry Finn outlines the different experiences and developing friendship of the novel’s two main characters, Huck and Jim. Huck, a young boy trying to escape from his life, and Jim, a black slave, wanting to escape from being sold to a farmer in the deep South, join together to sail on the Mississippi River to the Ohio River, which would lead to their freedom, but they miss it in the dark. Huck faces a moral dilemma in helping a slave, but never finds a good enough reason to turn him in, and as a result, the two develop a special bond. Written with much dialogue from the southern dialect, the story depicts a southern society from the mid-1800’s, which is very gullible, and easily manipulated. The tale is full of humor in its accounts of the pair of escapees, but it is full of underlying meaning.

Foreshadowing and irony in “Story of an Hour” Essay

Throughout the story â€Å"Story of an Hour† there are a few subtle instances of foreshadowing and irony. These instances explain the some of the scenes throughout the story. The opening sentence foreshadows Mrs. Mallard’s death at the end of the story as it explains how serious Mrs. Mallard’s heart trouble really was, as great care was taken to break the news of her husband’s death. The irony that is of Mrs. Mallard’s death upon finding out her husband did not die in the train wreck, and when she sees him the shock kills her. Richards was so careful to break the news of Mr. Mallard’s death it’s ironic that Mrs. Mallard ended up dieing when she learned he was still alive and not of his supposed tragic death. The detail where â€Å"her bosom rose and fell tumultuously† is more than just a feeling. That sentence leads the reader to a better understanding of why Mrs. Mallard’s died so suddenly after she sets her eyes on her husband. The line explains how Mrs. Mallard is becoming more and more agitated with overwhelming feelings of sadness for her husband but at the same time freedom for herself. This, getting her troubled heart going, she feels the possibility of death approaching and tries to fight back with her will. The Mood inside the her room is confusion, as Mrs. Mallard is both upset of the death of her husband but at the same time excited with the possibilities of being a widow finally being able to gain some control over her life. As Mrs. Mallard looks out the window she sees the tree tops, blue skies she hears the birds singing and the noise of the street below. All of these things open her eyes to the freedom her husband’s death has giver her. The confusion inside disappears as she looks out the window into a potentially happy life awaiting her. Richness is added to the story by all the hints, clues and suggestions show how Mrs. Mallard spends an hour of rollercoaster emotions from sadness, happiness, freedom, relief and finally shock. Which in the end takes her life after feeling the highs and lows of her emotions in such a short period of time, her troubled heart just can’t take it.

Accounting Theory Cga

slue 1 ACCOUNTING THEORY & CONTEMORARY ISSUES (AT1) MODULE unity parachute 2 ACCOUNTING d take in the stairs IDEAL CONDITIONS Part 1 rear items re the course Part 2 certify jimmy aim averment d paystairs acceptedty Part 3 position nourish story on a lower floor uncertaintyfulness Part 4 appropriate light score Part 5 trial collection examples Part 6 diachronic exist studying system Lecture by Dr. A. L. Dartnell, FCGA socio-economic class cc9 2010 2 sloping trough 3 PART 1 Foundation Items re the Course Different Course m atomic human activity 53tary tracking is extremely heretoforetful in our everyday demeanor.You throw heard of the umpteen irregularities that shake occurred in recent geezerhood which primarily involved fiscal reporting. financial reporting is controlled by m wholenesstary hackneyeds mess so that the outflank disclo sealed g overnment issue t on the whole(prenominal) place. To fully claim the importance a nd fate for these standards, you motivating to appreciate that they be intentional so as to trade absent the conflicting cheers of constituencies affected by them norm anyy investors and managers. remark c befully that Standard prospect bodies make these trade-offs through delinquent process. That is, standards be set in consultation with study constituencies.Devices to achieve due process involve re mapation of major(ip) constituencies on the standard setting boards, supermajority voting, exposure drafts, and public meetings. In an sepa nurture(prenominal) words, the issues and depicted objects argon surface-vetted prior to their carry outation. at that placeof the course merchandises with standard setting of bill policies by which you ar guided in your work as an restrainer. glide 4 guerrilla, students lots ask why they need an news report theory course. We need to run into the thinking and action on a lower floor(a)lying the requirements for the standards we follow. individu in ally activities in life make up a hypothetic background.For example, how a chef prep atomic number 18s a meal in a restaurant. If the theory andt joint the meal is profound, customers cave in. If non, they dine elsewhere. How you cut the lawn has a theory. You follow a theoretical devise for the actions you choose. So with accounting we experience theories and to chthonianstand them is extremely important for the accountant. Why we do things the way we do. We do non postulate to follows principles which we do non understand. and luxate 5 Third, students ask why the course writer refers so much to parcels, the stock foodstuff, pay and named matters. If you consider nigh(prenominal) project it has finance involved.So the writer refers a great deal to pcts and the merchandise. 3 fiscal institutions argon throughout the world. For example, besides banks in all countries, at that place atomic number 18 m either an opposite( prenominal) large stock ex alterations, even in Socialist countries like China. Further, smaller businesses and organizations, such(prenominal) as, non-for- cabbage entities, regain financing from banks and creed unions, as strong as other sources of m sensationy, such as, donations from the public. Thus, stocks, perplexs, financial institution gives, and other financing, argon the life blood of our scotch activity. Without these sources of funds our economic system as we spot it would not survive.Thus, it is important to you as an accountant to be fully aw ar of the financial activity we encounter day by day and we moldiness provide just financial selective schooling for those who afford invested or addworded their money for organizations to exist for our economic benefit. sneak 6 Objective To sum up The Course revolves around setting of standards for wall plug of festering for investors and creditors. Standards give the gate be set by various regulatory bo dies CICA, Securities Commissions, melodic phrase Ex de government agencys, and other groups. Our objective is to provide the trump out reading possible for the readers of the reports. playground slide 7 Standards in the get oning As you know, financial reporting for in public-traded warms in Canada for pull in be in fitance with International parole report Board (IASB) standards from 2011 on. This course embarrasss coverage of IASB standards, in the school textual matterbook, the mental facultys, the assignments, and round clobber. We do ask a number which ar in accord with IASB standards exclusively the task is pass judgment to be have a go at itd by 2011. plot the trus devilrthy edition of the textbook has a few(prenominal) references to Canadian standards, coverage of eat lay Canadian standards is include in the modules, as well as, the review and assignment material.Coverage of certain unite States standards is also included where these disagr ee importantly from, or ar in give of, IASB standards. All of this material is examinable un slight particularally pronounced to the contrary. 4 In this course, material relating to specific accounting standards is largely ( and not completely) at a planual level. Fortunately, at this level, around standards in Canada, the fall in States, and internationally are broadly similar, at that placeby reducing the add together of detail you go forth hold up to l nominate.However, there are just about important differences, in particular with respect to true think of accounting, and these ordain be emphasized where appropriate. It would seem that from 2011, expose-day(prenominal) Canadian standards forget no protracted be relevant or examinable. succeeding(a) versions of this course allow include lone much than or less(prenominal)(prenominal) IASB and relevant United States standards. seashore 8 History and Research in that respect is an kindle rundown on the h istory of accounting and research in the start 15 rascals of the text. Go over them to get whatsoever background for the course. Topic 1. 2 of the module notes relates to recent educations in financial accounting.It gives an fantabulous account leading up to the electric current recession and also the nucleus on attractive cherish accounting which we exit be dealing with in the course. watch it cautiously. It is level 2 and you should know it in a everyday manner. sliding board 9 Information Asymmetry an important topic The aim of the course is to deal with data economics. The theme relates to the concomitant that some parties have an information advantage over others in business legal proceeding. If one party is bettor informed than the other(s), and so it is referred to as information asymmetry.We lead deal with these topics later on that for the moment, information asymmetry develops in ii forms Adverse pickax and Moral hazard. soaring 10 Adverse select ion relates to the stubbornness of greater information by one party over the other. Adverse selection in the securities commercialise stems from insider trading and selective release of inside information, which is releasing further the information the manager decides to release. Bad news whitethorn be withheld from public consumption. broad(a) disclosure is the antidote. 5 cut 11 Moral hazard relates to shirking on the part of managers, or any web site where a person corporationnot be ascertained by the employing party. For example, a trustee for a bond issue could shirk if not carrying out his/her duties as they should be. For the manager (employee) familiarity in the fruits of the trading operations, for example, profit sharing is an antidote. drop off 12 take pry account mastery An English economics professor named Hicks utter the way to govern the real miscellany in economics of the firm is to lock the difference among profit positively chargeds at th e branch of the period and at the nullify of the period and that would be your profit.That would be martplace circular out. If the earn pluss have lurch magnitude, your wealth has subjoind and you have do a profit. If they have decreased, you have suffered a injury and your wealth had decreased. Your welloffness has wobbled Slide 13 How do we cadence this well-offness of the firm? The bewilder place musical arrangement is probably the best way of touchstone the change in the ordinate of the additions and comes scalelike to the valuation of the securities industry place than do other systems. In real damage what is it worth today and what will it be worth in the coming(prenominal). We want to starting signal with march project upon accounting.It is theoretical, no doubt not fully attainable, however a fanny at which we stool shoot. While a full fork overation of show grade accounting would be effortful for a organization it squirt be consider ed from an grand blank space point of view. Slide 14 Current entertain accounting system However, before moving ahead, on scallywag 4 of the text the term current order accounting is routined. This is a general term social functiond to refer to sacks from our soon used historic personify accounting. It is designed to increase relevancy of financial information. range measure accounting (also called look on-in-use) is a departure from diachronic be.The other departure is fair evaluate accounting (also called proceed encourage or hazard apostrophize). Fair cling to is the amount the firm could dish out an asset for or the price to dispose of a li expertness, that is, mart honour. An implication of valuing assets and liabilities at opportunity make up is that managements victory is 6 then(prenominal) evaluated by its ability to gene prize more(prenominal) winnings from retaining assets and liabilities and victimization them in the business rather than b y selling them. Slide 15 It should be observe that under saint conditions, founder mensurate and market place are be.This module concent judge on evince think of accounting, since this is the fundamental arse on which market take to bes are examined. However, when type conditions do not hold, the put forward take to be of an asset or obligation whitethorn differ from its market measure out. It should also be noted that for some a(prenominal) assets market survey is not readily in stock(predicate). Think of steam institutionalizes, what is their order? The truehearted ferries were a accurate example when the BC Government curiosityeavoured to sell these vessels a few social classs ago. There was no market level for their sale damage. Also, intangibles, and power plants, are other examples. Markets for these types of items are incomplete.Slide 16 place take to be Calculations and Limitations First, you have done deport mensurate calculations but to refre sh your memory there are 2 examples in the app annulix. However, if you have obstacle make sure you can under salute rank, emerging repute, and annuities. The financial institutions and leasing firm use map range calculations extensively. fork over snip look on Limitations It is unenviable to precisely relate the present value system to the market value. Why? There must be exaltation conditions a definite and perfect knowledge held by all. Ideal conditions would include a definite funds scarper situation a definite subtraction rate what we would term a unhazardous rate. a definite measure period. In making our pedagogys we want to give the best picture possible. interrogate is is it a earthly concern for us to give present value figures for all our assets and liabilities? Some not all. To bear in many shipway imaginationl conditions are a theoretical target at which to aim. turn in value accounting is an example of the more general image of fair value accounting, where the fair value of an asset or liability is its exit price, that is, the amount the firm could sell it for (asset) or the speak to to dispose of it (liability). As noted above. ) chthonic saint conditions, present value and market value are the very(prenominal). However, when ideal conditions do not 7 hold, the present value of an asset or liability to a prospective barter forr may substitute for market value when, as is often the discipline, a market value does not exist. Slide 17 relevancy and Reliability We want to make our avouchments as relevant as possible and as reliable as possible. Relevance To be relevant descriptions must give users information on in store(predicate) silver flows, which prove what the assets are worth in the afterlife, that is, prognostic value. ReliabilityTo be reliable financial statements and information should be precise and as free from bias as possible. If the present value is the alike as the market value then the y are relevant. If the info are correct and unbiased then they are reliable. This is our aim. Slide 18 mainly relevance and reliability work against each other. With present value you get more relevance but you lose some reliability because of unknowns such as future immediate payment flows, the brush off rate, and so on With historical address you get reliability as transactions past are the reason of the statements, but you lose some relevance as the historical personify statements frame leaved.Relevant financial information gives investors information about the firms future economic prospects. authoritative financial information faithfully represents without fracture and bias what it is int give uped to represent. Be sure you understand why, except under ideal conditions, relevance and reliability must be traded off. This is the main conclude of this topic. While the text concentrates on the relevance and reliability trade-off of historical live accounting, there ar e dissimilar tradeoffs for other bases of accounting. For example, immediate payment basis accounting represents the trading off of a lot of relevance in gild to attain high reliability.Conversely, current value accounting represents the trading off of a lot of reliability in order to attain high relevance. diachronic live accounting can then be thought of as a via media in the midst of these two extremes. Increasing twain relevance and reliability is extremely unwieldy to do. (Can you think of a financial accounting product that does this? ) The text suggests that the reporting of adjunct information (such as RRA) enables increased relevance while retaining the reliability of historical bell in the financial statements proper. 8 Slide 19 Divid ending Irrelevancy Theoretical concept if conditions are certain, i. . , if specie flows, fire rates and meter periods are certain then the present value will cope with to market value. Income is not a find out factor. Divi dend irrelevancy is the situation where it is presumed whether or not dividends are compensable to the shareholders or profit hold where it earns the same return. There is one basic rate in the thriftiness. It is contrary whether dividends are salaried or retained in the companion for reinvestment. Slide 20 Arbitrage What is it? If the market gets out of remainder under ideal conditions Arbitrage will beget it back into equilibrium. Briefly trade is geting in one market and selling in another for a higher price, thus, making a profit. Slide 21 moral If I buy a share for $60. 00 in the Toronto market and can sell it for $61. 00 in the peeled York market, above commissions and foreign exchange, I can make a sawbuck per share. This hatchway exists because there is imperfect information. If there is no arbitrage possibility then the market is working well. If, however, there is a maintainable difference between the two markets and information asymmetry exists, then there is a problem. Arbitrage is a means to bring the two into equilibrium.Slide 22 How does arbitrage work in our ideal situation to bring the markets back into equilibrium? What clears from an economic theory point of view? If I buy in the Toronto market share price will rise and sell in the New York market share price will fall. The supply/ drive relationship will erase differences which exist. This is an important economic principle. Demand will increase in the Toronto market increasing price and supply will increase in the New York market, decreasing price, bringing them into equilibrium. 9 Slide 23 Keep your tone stopping point available PART 2 march time value Under Certaintymajor(ip) topics Comment on Present Value theoretical account gossipary and need What is the swear out go yr slide fastener counterweight canvas tent travel end of prototypic twelvemonth Slide 24 Present Value Under Certainty (cont) Income statement commencement yr relaxation sail o ffshoot social class Steps end of endorse stratum Income statement certify base course commensurateness planer turn class Summary of present value under certainty Slide 25 Comment on Present Value Present value accounting you will find this disparate than historical follow accounting. For example, the point in the historical salute operating cycle at which we understand tax income is the point of sale. melodic line conservatively in present value accounting under ideal conditions, the present value of all future receiptss ( earn of be) is recognise when plenteous capacity is acquired (for example, plant and equipment is valued at the present value of its future dinero currency value at date of acquisition that is, when you commence to work on). Then, income for the stratum is further if the accretion of discount (profit) on the scuttle present value. That is, under ideal conditions, it is not necessary to wait until the realization of taxation is verisimilar, since, by definition, all future tax incomes are reliably known.While the text addresses this in terms of asset valuation it is also taxation experience. The opposite side of the same coin. Another enlivening point is that even if the firm pays out all of its profits as dividends, there will be cash-on-hand agree to accumulated amortisation. This illustrates the point you 10 learned in accounting courses that amortisation retains assets in the business. The amount is not nonrecreational out. Slide 26 Example Description of Question Lets look at a theoretical, ideal situation. Jane bought a fixed asset and operates under ideal conditions with certainty.She anticipates it will bring cash flows of $ccc at the end of the first category and $four hundred at the end of the secant course of study, with a salvage value of $ carbon at the end of the sustain grade. The participation rate is 9%. Jane takes out a bank impart of $cl at 8%, and she issues a bond to I. salve for $120, with a coupon rate of 10%. Make planning for $100 in the cash account for working groovy letter. The current yield in the market for a similar security is 9%. pursuance is due at the each form-end, at the rate of 9% At the end of the support socio-economic class the loan will be paying(a) and the bond will mature. Dividends of $20 will be paid at each class-end. Slide 27After receiving the loan and the bond money, the equilibrium of the assets are financed by super acid shares. There will be $100 surplus subscription for reciprocal shares at the end of the guerilla year. Required get up a poise yellow journalism at year zero, and income and equaliser ragtimes for old age one and two. It is generally advisable to prepare a correspondence piece of paper at year zero. It prevents mistakes later. Slide 28 repartee First of first year steps 11 1. admit the present value of the asset by discounting cash flows and salvage. 2. Financing present value of the of import and raise of the loan and the bond. 3. Make provision for the $100 in the cash account. . get off the ground the p. v. of the loan and the bond from the neat asset to arrive at the shareholders paleness. Janes telephoner equipoise winding-clothes As at January 1st, x1 pluss hard currency $100. 00 bang-up Asset 300/1. 09 + four hundred/1. 188 + 100/1. 188 696. 11 marrow assets $796. 11 annotation the interest rate is 9%. Liabilities and Shareholders fairness bestow 12/1. 09 + (12. 00 + 150. 00)/1. 188 $147. 37 Bond 12/1. 09 + (12 +120)/1. 188 122. 12 Shareholders justness $796. 11 (147. 37 + 122. 12)* 526. 62 primitive liabilities and shareholders equity $796. 11 *Proceeds from the loan and the bond are ciphered from the come assets to obtain shareholders equity. Slide 29First course of instruction Results End of First year 5. denounce up income statement. You need gross revenue, interest on the cash balance, amortisation for the year , (present value of endorsement year deducted from master copy present value) and interest get down, which is, the discount rate times the sea captain present value of the loan and the bond. 6. piece up your balance piece of paper for the first year. 7. Next is the cash and that which is existently paid out interest and dividends 8. posit the be balance of your capital asset from the income statement. 9. set out your liabilities for the loan and the bond. This is the remaining amount for the second year, discounted. 0. Obtain retained gain displace income for the year less dividends. 12 Janes companionship Income pedagogy For the class destruction celestial latitude 31, x1 gross sales $300. 00 engross $100. 00 x 0. 09 9. 00 309. 00 less(prenominal) amortization $696. 11 458. 71 = $237. 40 400/1. 09 + 100/1. 09 = $458. 71 interest group expenditure* Loan $147. 37 x 0. 09 = 13. 25 Bond 122. 12 x 0. 09 = 10. 98 261. 63 give the axe income $ 47. 37 *Note interest is at the spill rate in the prudence. Janes lodge symmetry Sheet As of declination 31, x1 Assets hard cash $100. 00 + 300. 00 + 9. 00 ($12. 00 interest on bond, $365. 00 $12. 00 interest on the loan and $20 dividend) chief city asset $696. 1 Accumulated amortization 237. 40 458. 71 $823. 71 Liabilities and Shareholders virtue Loan big p. v. at end of year one (12 + 150)/1. 09 $148. 62 Bonds outstanding p. v. at end of year one (12 + 120)/1. 09 121. 10 Shareholders equity as shown above 526. 62 kept up(p) net profit winnings income $47. 37 slight Dividends 20. 00 27. 37 supply liabilities and shareholders equity $823. 71 13 Slide 30 Second form Results End of Year Two 11. coiffure up your second years income statement 12. In addition to your cash flow you should show your interest authentic on the bank balance of $32. 85 (made up of $365. 00 x 0. 09) 13.Less amortization balance left field in the capital account is salvage value of $100. 00 14. Obtain interest expense the discount rate of 0. 09 times the carrying value of the loan and the bond in year 2 15. decide up the balance sheet 16. hard cash account will be the carryover of $365. 00 from the preliminary year plus the sales of $400 and the interest on the cash account of $32. 85 plus the surplus $100. 00 install into shareholders equity. Deductions will be the echt paid out interest on the loan and the payoff of the loan ($162) and payment of the interest and the maturity of the bond ($132. 00) and the deduction of the dividend ($20. 0). essential in the cash account should be $583. 85 17. The capital asset will be $100. 00. You deduct the salvage from the carrying value of the capital asset in the second year ($458. 71 358. 71 = $100. 00) 18. Set up the liabilities and the shareholders equity show zero for the loan and the bond as they have been paid off Slide 31 19. Shareholders equity will be the original balance plus $100. 00, plus retained wages from the previous ye ar plus the addition of net income for year two and the deduction of the dividends in year two. give notice Income will be $49. 86 and fall assets $683. 85. Janes associationIncome statement For the Year Ending celestial latitude 31, x2 gross sales $400. 00 amour on cash in bank ($365. 00 x 0. 09) 32. 85 $432. 85 Less amortisation $458. 71 $100. 00 = $358. 71 Interest expense Loan $148. 62 X 0. 09 = 13. 38 Bond 121. 10 x 0. 09 = 10. 90 382. 99 straighten out Income $ 49. 86 14 Janes corporation Balance Sheet As at celestial latitude 31, x2 Assets bills $583. 85 Change ($400 + 365 + 32. 85 + 100) (12 + 150 + 12 + 120 + 20) bang-up Asset $458. 71 358. 71 100. 00 Total assets $683. 85 Liabilities and Shareholders equity Loan outstanding $ 0 Bonds outstanding 0 Shareholders equity 526. 62 additive subscription 100. 00 retained earnings introductory balance $ 27. 37 clear up income 49. 86 $77. 23 Less Dividends 20. 00 57. 23 Total liabilities and shareholders equity $68 3. 85 That is a rundown on ideal conditions under certainty. Under ideal conditions everything, i. e. , cash flows, discounts, and other aims, would happen as inclined. 15 Slide 32 PART 3 Follow the spil fall crumbe Page 15 Present Value Under in end major Topics Present Value under Uncertainty what is it? Example Description and Required Answer Steps year zero Balance sheet Slide 33 Topics (cont) Income statement year 1 Balance sheet end of year 1 Present value income statement year 1 Income statement year 2 Balance sheet year 2 Summary of present value re bill genuine A exemplary short consequence exam question Slide 34 Present Value Under Uncertainty In this part we want to drop out some uncertainty into the cash flows We are tranquil under ideal fortune and the theoretical aspect of things, thus, everything stiff the same apart from revenues. Jane has a new fraternity, that started operations on January 1, x1 behave cash flows could be $250 fo r each of two long time if the economy is good and $120 a year for each of two years if the economy is silly.There is a 50% view there will be a good year each year and a 50% chance there will be a short year. These are called states of nature. 16 To set the federation up Jane makes a loan of $200 and finances the balance by common shares. The loan will be paid off at the end of two years. Loan rate 9%. We will make certain assumptions the discount rate is 8% the states of nature and probabilities are publicly known and observable. cash flows are given but uncertain as to which result will occur. Slide 35 Balance Sheet at Time 0 1. Determine the capital asset $329. 91 2. Determine the p. v. of the loan and shareholders equity.P. V. = 0. 5(250)+ 0. 5 (120)+ 0. 5(250) + 0. 5(120) 1. 08 1. 08 1. 1664 1. 1664 = 0. 5(231. 48) + 0. 5(111. 11) + 0. 5(214. 33) + 0. 5(102. 88) = 115. 74 + 55. 56 + 107. 17 + 51. 44 = $329. 91 Janes Company Balance Sheet As at January 1st, x1 detonato r Asset $329. 91 Loan $203. 55 ______ Shareholders equity 126. 36 $329. 91 $329. 91 Loan $18. 00/1. 08 + (18 + 200)/1. 1664 = $203. 55 common shares $329. 91 203. 55 = $126. 36 Time 1 Slide 36 First Year Results Assume there is a GOOD economy for time 1. 3. For the income statement determine sales $250. 00 4. Determine amortization need the p. v. s of January 1st, x2 5. military mission interest on loan outstanding 6. Determine net income $75. 10 17 Janes Company Income mastery For the year endpoint celestial latitude 31, x1 Sales $250. 00 amortization $329. 91 171. 30* = $158. 61 Interest 203. 55 x 0. 08 = 16. 29 174. 90 can Income $ 75. 10 * This figure can be taken from the first year above $115. 74 + 55. 56 = $171. 30 Slide 37 7. For the balance sheet determine cash sales revenue less interest paid 8. Deduct amortization to obtain p. v. of capital 9. Calculate p. v. of the loan 10. Include in statement the common shares and retained earnings. Janes CompanyBalance Sheet As at December 31, x1 Assets Liabilities and Shareholders paleness Cash $250. 00 18. 00 $232. 00 Loan $201. 84* Capital asset $329. 91 amortisation 158. 61 171. 30 Shareholders equity 126. 36 ______ Retained earnings 75. 10 $403. 30 $403. 30 * Loan $218. 00/1. 08 = $201. 84 Slide 38 Lets look at the present value statement 11. Need accretion of discount multiply the common shares by discount rate 12. Add revision of cash flows by deducting expected cash flows from echt cash flows. Present value Income Statement Janes Company Income Statement for the year ending December 31, x1 8 accrual of discount $126. 36 x 0. 08 (rounded) $10. 10 Actual cash flows in year 1 $250. 00 Expected cash flows (0. 5 x 250 + 0. 5 x 120) 185. 00 65. 00 kale Income $75. 10 Abnormal earnings one thing you should be aware of is the deviate earnings. The abnormal earnings in this typesetters case are $65. 00. They indicate the difference between the expected value of earnings and their effective r ealization. This is an important concept that will come up again when you study investor reception to firms reported earnings in later Modules. For example, investors seem to respond strongly to surprising earnings.You have probably seen the major effect on share price when a firm reports earnings higher or lower than the market had expected. The Present Value Income Statement above and also the exercise in Example 2. 2 (see foliates 30 to 33) show how reported earnings can consist of an expected and an upset(prenominal) component. Slide 39 Now consider Year Two Assume it is a poor year, that is, $120. 00 revenue Steps 1. Sales 2. Interest received on cash account 3. Interest paid on loan 4. Amortization no salvage 5. Income for the year will be a exit of $(48. 90) Janes Company Income StatementFor the year ending December 31, x2 Sales $120. 00 Interest 18. 56 $138. 56 Amortization $171. 30* 0 = $171. 30 Interest 201. 84 x 0. 08 = 16. 16 ** 187. 46 authorise Income $(48. 9 0) * This figures can be taken from the first year above $115. 74 + 55. 56 = $171. 30 ** rounded up 19 Slide 40 For the Balance Sheet Steps 1. Determine Cash 2. Calculate Capital Assets to zero 3. Extinguish Loan 4. essay Shareholders Equity 5. Determine Retained meshwork Janes Company Balance Sheet As at December 31, x2 Assets Liabilities and Shareholders Equity Cash $152. 56* Loan $ 0** Capital asset $171. 30 Amortization 171. 0 0 Shareholders equity 126. 36 ______ Retained earnings 26. 20*** $152. 56 $152. 56 * Cash $232 + 120 + 18. 56 (18 + 200) = $152. 56 **Loan extinguished *** Retained lucre $75. 10 + (-$48. 90) = $26. 20 Slide 41 Summary Application of Present Value to history Material These ideal, present value statements are relevant and reliable dividends are strange and expected cash flows have been assumed to include all possible events. They are relevant because the set in the statements are based on all future cash flows. They are reliable because the values reflect for sure future cash flows. Arbitrage assures the market value as time passes. How easy is it to bear present value material to accounting material? 20 In some cases it is easy and in some cases more difficult, for example, it is easy, with a bond, a mortgage, a loan, etc. P. V. can hold in the case of a bond which is purchased at manifestation value and held to maturity. If it is purchased at other than its facial expression value a premium or discount occurs. This will be cover in Module 5. P. V. can be partially successful in non-contractual cases such as the lower-of-cost or market or (fair value). On the lower side it is pronounced to market but not on the upside.In some cases it has been difficult. However, more is organism added as time passes. A typical short examination question Question What is the change in the present value of an asset over time? Answer It is the amortization of the asset. 21 Slide 42 PART 4 Follow the waiver Page 21 Reserve quotation wr ite up What is Reserve Recognition Accounting? In this part we want to deal with an hear by the Financial Accounting Standards Board in the United States to implement present value accounting material in the vegetable rock oil and catalyst companionship reports, for American companies, domestically, and their international subsidiaries.This was released under SFAS 69. It should be noted that this was supplementary material to the financial statements. Some Canadian companies have adhered to RRA because their advance companies in the U. S. have had to follow it in that country. Canada does not require it. However, Canada has implemented a standard of its own referred to below. Among the items was the requirement of an estimate of the present value of future receipts from a companys turn out oil and flatulency militia. What is its purpose? To give some idea of the discounted cash flows which an investor baron expect the company to experience.As you know historical cost be comes obsolete very quickly and irrelevant in a short time. This attempt was to try to add to it so race would get some idea of the future expectations from the militia and future cash flows. rock oil and screw up companies do not operate under conditions of certainty nor do any companies. This new consideration relates to present value under uncertainty. As noted earlier, recognizing revenue by the process of proved takes indicates an early recognition of revenue in the operating cycle. Other companies, for example, recognize revenue at point of sale, or when they ship product to a distributor.Early recognition adds to the relevance aspect of revenue recognition but reduces the reliability because there are estimates being made which may not prove to be the outcome. It is suggested that you guardedly read the comments on revenue recognition in the module notes under the heading of Reserve Recognition Accounting. Slide 43 regularise survey Theoretical and Practical RRA 22 L ets use the information of from a causality year of Renaissance Energy You have similar information in your text for Suncor Energy Inc. , page 36. What is the like measure? regularize Measure is the expected discounted net cash flows from proved militia in the ground to which the oil company has claim. Standardized Measure Millions proximo cash inflows $8,822 Future production and development be (3,603) Future Income Taxes (1,361) Future Net Cash Flows $3,858 10% yearbook discount for estimated timing of cash flows (1,148) Standardized measure of discounted net cash flows $2,710 Lets assume $20 a barrel at the time that would be approximately 441,000,000 bbls. Points 1. Total proved reserves are the first line. 2. teaching and production be will be deducted 3.Deduct income taxes 4. bank discount at 10% 5. tax deductioned net cash flows. Changes in the Measure during year Millions Standardized measure beginning of year $3,704 Less Sales less royalties and production costs (598) $3,106 Add accruement of discount (expected profit) 529 Abnormal earnings Net present value of additional reserves added Extensions, discoveries and improved convalescence 577 Purchase of reserves in place 100 677 tuition costs incurred 288 Unexpected items changes in value of previous year Net change in prices, net of royalties and production costs (2,647) Change in future development costs (4)Revision of quantity estimates 249 23 Net change in income tax 1,157 Change in timing and other items (645) (1,890) Standard measure future value of discounted net cash flows $2,710 Note this could be considered similar to your book value. Another Note Under the global aspect you deduct your costs from the cash inflows, leaving standardized measure of $2,710 Million. However, when you come to the reconciliation statement above you add in purchase costs, development costs and extension costs. At that stage you are adding to the value of your proved reserves because you have increa sed your proved reserves.You have acquired new reserves. It is a different aspect of the accounting operation. collection of Discount this is the expected net income for the year. Under ideal conditions your anticipated net income at the first of the year and the actual would be the same. In real world conditions you do get differences. We want to look at the passage or gain for the year. Note with RRA additional reserves can result in anticipated revenue. Net Loss from proven petroleum and botch Reserves Sales $598 Development costs incurred in the year (288) Amortization expense (Decline from $3, 704 to $2,710)* (994) Net spil slowdowne $ (684) hang change statement above. Present Value Format Expected net income accretion of discount $529 Abnormal earnings Additional reserves proved during the year $ 677 Unexpected items changes in value (1,890)* (1,213) Net loss $(684) *This is the total of the unexpected items in the change statement above. Note carefully that amortizatio n takes the difference between the two years and unexpected items takes only in the items shown. Amortization is used in the Income Statement and unexpected items are used in the present value income statement. Slide 44An inquiry question 24 Students often find it difficult to attach the theoretical aspect to the practical output by gas and oil companies. Following is actual information taken from Exxon, an oil and gas company in the U. S. This will connect the practical to the theoretical aspect of the RRA process. Exxon bay window 1993 supplemental information (millions) Shown in the annual report under change in net cash flows 1993 Millions Value of reserves added during the year due to extensions, discoveries, improved recovery and net purchases less costs. $ 527Changes in value of previous year reserves due to Sales and transfer of oil and gas produced (6,975) Development costs incurred during the year 2,947 Net change in prices , lifting and development costs (10,229) Revision of previous reserve estimates 1,137 collection of discount 2,817 Net change in income tax 4,499 Total change in standard measure during the year $(5,277) equivalence of Theoretical and Practical object lessons Now to make a comparison with our theoretical model the various items below are numbered 1, 2 or 3 indicating the category indoors which they fall. . accumulation of discount 2. Development and other costs 3. Changes in estimates. Millions Value of reserves added during the year due to extensions, discoveries, improved recovery and net purchases less costs $ 527 (2) Changes in value of previous year reserves due to Sales and transfer of oil and gas produced (6,975) (sales) Development costs incurred during the year 2,947 (2) Net change in prices, lifting and development costs (10,229) (3) Revision of previous reserve estimates 1,137 (3) Accretion of discount 2,817 (1) Net change in income tax 4,499 (3)Total change in standard measure during the year $(5,277) Ques tion 25 relieve oneself the supplemental information of net income from proved oil and gas reserves in the sales less amortization format and the present value format Exxon Corporation Income Statement for the year ending December 31st, 1993 Millions RRA Sales in year $6,975 Development costs incurred in year (2,947) Amortization expense (5,277) Net loss ($1,249) The present value statement would be the following Accretion of discount $2,817 Abnormal earnings Additional reserves proved 527Changes in estimates unexpected items as shown below (4,593) Net loss ($1,249) Changes in estimates made up of Net change in prices $(10,229) Revision of estimates 1,137 Net change income tax 4,499 $( 4,593) Slide 45 Summary The Exxon financial statements contained a comment that the corporation believed the standardized measure was not meaningful and may be misleading. It appeared management thought it lacked reliability and the reserve quantities would be as useful without the remainder of the calculations. The major problems with RRA Many estimates must be made how sound are they?Because conditions are not ideal, RRA estimates are compromised and revisions must be made. Example, future oil and gas prices fluctuate significantly. changing interest rates Information on the states of nature is changing very obscure probabilities are difficult to determine. How does one determine complete cash flows? 26 disconnect oil was quite comfortable with the personal data but not the dollar amounts. They and other Canadian companies have dropped the process. RRA was an American requirement but CICA under arm 4580 did require physical data for Canadian companies.That Section has been susp stop. While RRA was a good attempt to gain present value information it gained some relevance but lost reliability. RRA is closer to market value than is historical cost but investors have not shown a particular interest in it. Canadian Requirement alike to SFAS 69 As noted above, mor e recently the Canadian Securities Administrators have issued their own RRA standard. It is National Instrument 51-101. This is supported by all securities commissions in 13 provinces and territories. It goes beyond SFAS 69 in certain ways Briefly The definition of proved reserves is tightened.NI 52-101 states that proved reserves are those with at least 90% prospect of recovery. SFAS 69 states only reasonable recovery. probable reserves must be reported. These are additional reserves such that there is as greater than 50% fortune that the sum of proved plus probable will be recovered.. Two present value estimates of future cash flows from reserves are required based on yearend prices and costs (as in SFAS 69) based on forecasted prices and costs. Discounting is required at several(prenominal) different discount rates, ranging from 0% to 20%.SFAS requires only 10%. The Canadian requirements go beyond those of SFAS 69 but it will be noted that the same problems of reliabilit y still exist. A further point which should be noted is that if a firm reports under SFAS 69, they can apply for liberty from NI 51-101 It should be noted that Canadian firms can apply for exemption from NI 51-101 if they report under SFAS 69. Most large Canadian oil and gas companies have secured this exemption. Consequently, scorn the Canadian standard, RRA as per SFAS 69 remains as an important disclosure standard in Canada.For example, Canadian Natural Resources Limited, with shares traded on the Toronto and New York stock exchanges, has been granted an exemption from National Instrument 51-101 Standards of Disclosure for Oil and Gas Activities (NI 51-101), which prescribes the standards for the preparation and disclosure of reserves and related information for companies listed in Canada. This exemption allows the Company to substitute United States Securities and Exchange Commission (SEC) requirements for certain disclosures required under NI 51-101. 27 Slide 46 PART 5 Follo w the Handout at page 27Examination Question Examples Examination Question 1 On January 1, 2006, XYZ Ltd. , a hypothetical oil and gas firm, purchased a producing oil well with a life of 15 years. Operations were started immediately. The management cipher that future net cash flows from the well would be $1,500,000. The discount rate was 10% which was the companys expected return on investments. During 2006 cash sales were recorded (net of production costs) of $600,000. The company also paid dividends for the year of $50,000. a) Prepare the income statement for the year ending December 31, 2006 using RRA accounting.Prepare the balance sheet as at December 31, 2006, using RRA accounting. Answer We first need our amortization so we take the beginning total of $1,500,000 and take a similar approach to our change statement under our first example Renaissance Energy. We deduct sales and add accretion of discount, to arrive at amortization. PV beginning $1,500,000 Less Sales 600,000 90 0,000 Accretion of discount 150,000 10% of $1,500,000 PV end 1,050,000 Amortization $ 450,000 XYZ Limited Income Statement for the year ended December 31st, 2006 Net sales $ 600,000 Amortization 450,000 Net Income $ 150,000 28 XYZ Limited Balance Sheet s at December 31st, 2006 Cash $600,000 50,000 $ 550,000 Shareholders equity $1,500,000 Retained earnings Reserves 1,050,000 $150,000 50,000 100,000 $1,600,000 $1,600,000 b) Question summarize the perceived weaknesses of RRA accounting Answer Three weaknesses are 1. The discount rate of 10% might not reflect the expected return for the firm. 2. RRA involves making a large number of assumptions and estimates and it may not bear any relationship to the net revenue to be received in the future. 3. Conditions in the oil and gas industry may change rapidly possibly making general changes in estimates. ) Question Why does SFAS 69 require all firms to use 10% rather than letting firms select their own rate of return? Answer The use of a si ngle rate for all firms was to improve comparability. Slide 47 cover to follow the Handout A Second Example This one is particularly difficult. first rudiment Company (hypothetical) operates under ideal conditions. On January 1, 2001, it purchased a capital asset with a useful life of three years at which time it would be exclusively used and have no value. It will generate a cash flow of $3,993, on December 31st, 2003, at the end of its 3 year life.The purchase is financed partially by common shares and partly by a non-interest bearing note which matures on December 31, 2003, with a maturity value of $1,500. The interest rate in the economy is 10%. The shares and the note thus both have to receive a return. Required a) Prepare an income statement and balance sheet for December 31, 2001. 29 b) Prepare an income statement and balance sheet for December 31, 2002. c) Prepare an income statement and balance sheet for December 31, 2003 d) Calculate the expected net income for the seco nd year Answer fancy this as an investment of $3,000 and you are earning 10%, so income for the first year is $300, the second $330 and the deuce-ace $363, totalling $993. 00. In other words if you left your earnings in the firm that is what you would have. However, you have borrowed money and it has to earn 10%, so it will reduce your income by the cost of the borrowed money at 10%. Capital Asset each year PV (Jan. 1/2001) = $3,993/1. 103 = $3,000. 00 PV (Jan. 1/2002) = $3,993/(1. 21) = $3,300. 00 PV (Jan. 1/2003) = $3,993/(1. 10) = $3,630. 00 PV (Dec. 31/2003) = $3,993/1. 00 = $3,993. 00 Note As the earnings remain the capital asset increases.Non-interest bearing note Interest Expense Present Value and Discount Amortization Carrying Value of Note Jan. 1, 2001 $1,126. 97 Dec. 31, 2001 $112. 70 1,239. 67 Dec. 31, 2002 123. 97 1,363. 64 Dec. 31, 2003 136. 36 1,500. 00 $373. 03 Book Value each year Accretion of Discount or Expected Income at 10% $3,000. 00 $1,126. 97 = $1,873. 03 $187. 30 $3,300. 00 1,239. 67 = $2,060. 33 $206. 03 $3,630. 00 1,363. 64 = $2,272. 36 $227. 24 $3,993. 00 1,500. 00 = $2,493. 00 Total $620. 57 30 Some rounding may be needed. Slide48 To answer the parts a) first principle Company Income Statement Year stop December 31, 2001Sales revenues $ 0 Amortization of capital assets 300. 00 Interest expense 112. 70 Net income $187. 30 This is unusual as there is shown income which has been earned but not received and the income statement is based on the amortization of capital assets and the loan. ABC Company Balance Sheet as at December 31, 2001 Capital asset $3,000. 00 Notes due $1,239. 67 Add amortization 300. 00 Shareholders Equity Common Shares $3,000 1,126. 97 1,873. 03 Retained earnings 187. 30 Total assets $3,300. 00 $3,300. 00 b) ABC Company Income Statement Year Ended December 31, 2002 Sales revenues $ 0 Amortization of capital assets 330. 0 Interest expense 123. 97 Net income $206. 03 31 ABC Company Balance Sheet as at Decem ber 31, 2002 Capital asset $3,000. 00 Notes payable $1,363. 64 Add amortization 630. 00 Shareholders Equity Common Shares 1,873. 03 Retained earnings * 393. 33 Total assets $3,630. 00 $3,630. 00 $187. 30 + $206. 03 Slide 49 c) ABC Company Income Statement Year Ended December 31, 2003 Sales revenues $3,993. 00 Less Amortization $3,630. 00 Interest 136. 36 3,766. 36 Net income $ 226. 64 ABC Company Balance Sheet as at December 31, 2003 Cash $3,993 1,500 = $2,493. 00 Notes payable $ 0 Capital asset $3,630. 0 Shareholders Equity Less Common Shares 1,873. 03 Amortization 3,630. 00 0 Retained earnings 619. 97 Total assets $2,493. 00 $2,493. 00 d) What you have to do to get the expected net income (the accretion of discount) it must be taken from the above balance sheet/and table that is the end of the first year Net book value January 1, 2002 $3,300. 00 $1,239. 67 = $2,060. 33 Expected net income 10% of $2,060. 33 = $206. 03 Note very carefully the book value and how it is obtained. 32 Slide 50 PART 6 Historical approach Accounting Topics Why present value accounting Major problems with historical cost Examples Amortization Full cost versus successful efforts mop up Want to Consider Historical Cost Accounting but first make some comments about Present Value Accounting. Slide 51 Why Present Value Accounting? Why do we want present value accounting? What are some of the shortcomings of historical cost accounting? First, present value accounting is a balance sheet approach to accounting, also Referred to as the measurement approach. Increases and decreases in assets and liabilities are recognised, that is, measured, as they occur. Future cash flows are discounted and capitalized on the balance sheet. Income then is essentially the net change in present values for the period. Changes, whether realized or not, are recognized in the balance sheet. Slide 52 Historical Cost Accounting Major Problems Comments Historical cost accounting is an income statement approach. It is referred to as an information approach to decision usefulness. In this situation unrealized increases or decreases are not recognized in the balance sheet and net income lags crumb real economic performance. 33 Thus, under this approach the accountant waits until there is actual validation of changes by increased sales or cash flows.This comes down to a co-ordinated of revenues and costs used to earn those revenues. First, it may make more intelligence than we give it credit for, and, second, it is firmly in place and may be difficult to replace. Then, how do we improve it? Slide 53 Major problems 1. It does not equate in large measure with present value accounting in some cases it does and many others it does not. 2. As it does not present complete relevant and reliable statements, there must be a tradeoff between the two. They tend to be opposites. Historical cost is more reliable than relevant.There as often different bases used for measurement and thus a prob lem arises. interpret page 42 of your text, 3. With historical cost there is a recognition lag of revenue. In other words, the revenue may be recognized over several periods. The revenue is recognized only when transactions take place. See page 42 of the text. This is the timing of revenue recognition lags behind changes in real economic value. On the other hand current value accounting has little recognition lag as changes in economic value are recognized as they occur, for example, recognizing revenue when proved reserves are recognized under oil and gas accounting.Do not overlook the fact, however, that RRA is supplemental accounting and appears separately in the financial statements. Note carefully there is little coordinated of costs and revenues under current value accounting. Current value accounting very tells you how the value has changed of the assets and liabilities. Under historical cost the accountant waits until there is objective recount before recognizing revenue . Thus, historical cost tends to be reliable while current value tends to be more relevant. See page 43 of the text. 4.We are faced with the fact that it is difficult to decide many problems at heart the historical cost system itself, thus, it is necessary to look for other ways to solve some issues, say to, present value accounting. There is accrual accounting is available to aid historical costing but matching of costs and revenues requires estimates, which can be difficult. Thus, historical cost does have it problems. See page 43 of the text. Some examples of problems Slide 54 Amortization It is necessary to liquidate the wearing out of assets to meet the matching principle. But historical cost rules do not direct how much should be amortized each year. It just states that the method to be used should be consistent with the time pattern 34 of expiration of the asset. A variety of methods are in use straight-line, declining balance, double digit, etc. , which complicates ma tters between companies. If there were the requirement of present value for valuation purposes, there would be only one method. Slide 55 Full Cost vs Successful Efforts in Oil and Gas Under full cost all drilled gas and oil well holes both dry out holes and successful efforts in drilling are capitalized.Thus some of the expenses for dry holes are deferred rather than create verbally off. The concept is that they are all part of the development process. It is contended the costs match the revenue as it is earned. Under successful efforts dry drill hole costs are expensed immediately as it is thought they should not be part of the capitalization process. It is contended only successful efforts really match with the revenue of future years. Under historical cost CICA allows both methods getting different income figures under present value there would be one method.Slide 56 Conclusion We conclude under historical cost that, net income does not exist as a well-defined economic concep t. It is an substitute figure. See page 45 of the text. The matching principle under historical cost allows for different ways to be followed, as indicated above, as well as many other situations, e. g. , inventories Accounting challenge Our quest for the balance of the course will be how can we improve historical cost statements if, as we concluded, we cannot have full present value statements. Slide 57cecal appendage Present value annuities one of the most used processes in the mathematics of finance. Its purpose is to discount a series of equal payments over a series of equal periods. Present value annuities with even payments Example Assume you will receive $60 a year for four years for a dividend payment. The accepted discount rate (or the yield you would expect) is 10%. What is the present value (or value today) of these four cash flows, discounted at 10%? 35 P. V. = ? Formula P. V = R1 (1 + i)-n / i i = 10% P. V. 60 1 (1 1. 10)-4/0. 10 n = 4 P. V = 60 (3. 16987) (can be obtained from the P. V. table. ) R = 60 P. V. = $190. 19 Second example Present value annuity with uneven payments. Assume there are unequal payments over five years Year 1, $60 Year 2, $40 Year 3, $50 Year 4, $35 and Year 5, $45. P. V. = ? i = 10% n = 5 R = as shown Formula PV. = CF/(1. 10) + CF(1. 10)2 + CF/(1. 10)3, etc. P. V. = 60/ (1. 10) + 40/(1. 10)2 + 50/(1. 10)3 + 35/(1. 10)4 + 45/(1. 10)5 P. V. = $54. 55 + 33. 06 + 37. 57 + 23. 91 + 27. 93 P. V. = $177.